2. Social Media – Roadmap The Power of Social Forces Levels of Involvement What is Social Used For ? Reasons to Embrace Change Best Practices Lay of the Land for Credit Unions
3. Social Media – A Powerful Force The Web is essential in our daily lives 33% of media consumption(1) Boomers are gaining on Gens X/Y Social media to comprise 50% of usage(2) Social media now surpasses Email in global reach(3) Facebook now receives more traffic than Google Word of mouth is reaching a new level Millions of interactions take place every hour Brands are being discussed 24/7 Pew Research foundation 2009, (2) Forrester, 3) Nielsen Online
4. How Important is Social Media? 80% drop 60% Pop 50% drop Source: UMASSD Center for Marketing Research 2010
5. Levels of Social Media Involvement 25% 61% 13% We are heavily involved in social media We’ve experimented with social media, but not done much We don’t do anything Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
6. Websites Being Used for Social Media Facebook 85% Wikipedia 13% Twitter 77% Delicious 12% LinkedIn 58% MySpace 9% YouTube 49% StumbleUpon 9% Digg 14% Yahoo! Answers 4% Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
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8. 81% of companies say budget will increase over the next year.Has the amount of money your organization spends on social media increased or decreased in the last year? Do you expect investment in social media to increase or decrease over the next year? Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
9. How Twitter is Being Used Brand awareness Publicize new content Marketing channel Brand monitoring Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
10. How Resources are Allocated Digital marketing team PR / Comm team Cross-functional team Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
11. Time Spent on Social Media Hours per week spent by staff on social media activity Yes, more time 90% No, less time 2% The same 8% Do you expect social media activity to consume more time internally in 12 months? Source: eConsultancy and Online Marketing Summit 2010 (400 respondents)
33. Social Media Pitfalls Rush to action without a plan Lack of objectives and measurement Content guidelines Failing to engage audiences Limited Reach
59. Social Media Pitfall #4: Failure to Engage Social Media is about listening and interacting vs. shouting “Spray and Pray” does not work Think: Telephone vs. Megaphone Engagement hurdles: Lack of interesting and relevant content Self-focused content Too much self-promotion Me!
60. Social Media Pitfall #5: Limited Reach Social Media only works with a large audience Process of building a network is often overlooked Without reach, there is no ROI
61. Social Media Platforms Recommended Platforms Social Networks LinkedIn Twitter Slideshare Facebook Social News sites Digg Delicious Propeller PitchEngine
62. Social Media Measurement Tools Hootsuite (social media management) BuzzLogic (monitor influencers) BlogPulse (most popular blogs) Addictomatic (free monitoring tool)
63. Social Media Policy Don’t release confidential or proprietary information. Know when they must seek manager approval prior to publishing. Understand how NOT to infringe on copyright. State that you are an employee of xyz company if communicating on behalf of the company. Don’t defame competitors or other products. Respect others - basic anti-harassment guidelines. Remember that there is no such thing as privacy anymore – don’t say anything you wouldn’t say at work.
64. Why Social is working Creating content that starts conversations by using video that is easily shared and is open to comment from the online community. Sizeable audience and influencers are already establishing thought leadership. Blog content that uses contests and offline promotions to connect with the community online.
65. More than Marketing…Its a Movement A common message is directed towards developing members from the youth audience, with common trends like couponing, saving and investing skills to survive the troubled economy.
66. Credit Unions Are Going Mobile Credit unions are taking the next step in the new web, by making their sites accessible via mobile apps. This seemlessly integrates with social media. Mobile devices over took desktop computers as the most used device for internet usage on . (RudderFin,Feb. 12 2010)
67. Keep it casual and easy Social tools accessible from home page and branded presence across channels. The aim is to make communication “human” and easy by integrating with the people to earn likes.
68. Sears Federal Credit Union – has built presence across Facebook, Twitter, YouTube and Wordpress
69. Social Media Momentum Builders With a dedicated presence on both Twitter and Facebook, the NCUA (the national governing body for credit unions) is leading the momentum on social media tools.
